Next Scheduled Meeting: Wednesday, February 8, 2012
Topic : 2012 GAR Contract
11:45 A.M. – The Ravinia Club, Atlanta, Georgia
The closing attorney is the last eyes and ears on the transaction for the lender.
One of our recent speakers properly identified the important role of the closing attorney in Georgia. If your closing is not supervised by an attorney who has full knowledge of the title and control of the disbursement of funds, you may wish to ask your lender, why not? For decades in Georgia, attorneys have been conducting real estate closings which includes examining the title and disbursing the funds through an IOLTA (Interest on Lawyer’s Trust) account. In an effort to cut costs (the savings are not passed on to the consumer most of the time), some lenders in Georgia are sidestepping the traditional role of a closing attorney at great risk to themselves and to the public. GRECAA was created to preserve this important role of the closing attorney, the last trusted eyes and ears on the transaction, in the real estate process in Georgia.
If you have knowledge or were a party to one of these “witness only” closing, please take a stand against the spread of this practice in Georgia. Report your concerns to the State Bar of Georgia using their approved forms below.
Complaint Form to State Bar of Georgia
Unauthorized Practice of Law Complaint Form to State Bar of Georgia
This site is intended as a resource both for association members and the general public. We hope that you will find the information provided here both useful and informative. For association members we provide articles and materials of interest and complete membership rosters. The information contained in this web site is provided with the intent that it will be used to provide a better understanding of the process of closing the purchase of a home in Georgia. It is not intended to be a definitive statement of the law or to provide specific legal advice for any particular situation. If you have any questions concerning specific issues, GRECAA recommends that you consult with a real estate attorney.
